金科环境(688466) - 2025 Q3 - 季度财报

Financial Performance - The company's operating revenue for Q3 2025 was ¥117,695,627.10, a decrease of 20.86% compared to the same period last year[4] - The total profit for the period was ¥9,021,857.45, down 55.38% year-on-year, primarily due to a decline in revenue[4] - Net profit attributable to shareholders was ¥9,640,857.17, reflecting a decrease of 29.63% compared to the previous year[4] - For the first three quarters of 2025, the company achieved operating revenue of CNY 394,561,285.36, a year-on-year increase of 0.30%[14] - The net profit attributable to shareholders of the listed company was CNY 40,206,875.57, a year-on-year decrease of 11.18%[14] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 36,158,269.37, a year-on-year decrease of 10.27%[14] - Operating profit for the first three quarters of 2025 was CNY 42.09 million, down from CNY 58.29 million in 2024, indicating a decrease of 28%[34] - Net profit for the first three quarters of 2025 was CNY 37.78 million, compared to CNY 52.32 million in 2024, a decline of 27.8%[34] - The net profit attributable to the parent company shareholders for the current period is CNY 40,206,875.57, a decrease of 11.4% compared to CNY 45,265,776.59 in the previous period[35] - The total comprehensive income attributable to the parent company owners is CNY 39,859,562.70, down from CNY 44,572,329.71, reflecting a decline of 10.5%[35] Cash Flow and Assets - The net cash flow from operating activities increased by 32.05% to ¥45,081,814.87, mainly due to government subsidies received for the "Tangshan South Port Economic Development Zone Wastewater Resource Utilization Project"[9] - The company reported a decrease of 71.25% in net cash flow from operating activities year-to-date, primarily due to reduced project collections[10] - The net cash flow from operating activities was CNY 12,810,495.85[14] - Cash and cash equivalents as of September 30, 2025, were CNY 267.06 million, compared to CNY 411.20 million as of December 31, 2024, a decrease of 35%[30] - Total assets as of September 30, 2025, were CNY 2.24 billion, slightly down from CNY 2.30 billion as of December 31, 2024[31] - The company's current assets total CNY 940,243,592.33, a decrease from CNY 1,096,476,775.88 at the end of 2024[40] - The company's inventory increased to CNY 71,748,083.33 from CNY 67,058,004.56, reflecting a growth of 4.0%[40] - The total cash and cash equivalents at the end of the period is CNY 255,772,233.05, down from CNY 360,172,627.81 at the end of the previous year[39] Research and Development - Research and development expenses totaled ¥7,656,522.97, accounting for 6.51% of operating revenue, an increase of 1.31 percentage points year-on-year[5] - Research and development expenses for the first three quarters of 2025 were CNY 13.27 million, down from CNY 15.18 million in 2024, a decrease of 12.6%[34] - The company launched the Water Radish® AI Intelligent Body 1.0, a system for unmanned operation management in water treatment plants, integrating various AI technologies[15] - A strategic cooperation was established with Wuhan University to create the "Wuhan University-Jin Ke Environment Artificial Intelligence Innovation Research Center" to enhance AI research capabilities[17] - The company was recognized as the first in the water industry to receive the Ministry of Industry and Information Technology's AI industry innovation scene application certification[16] - The new water island® series products achieved continuous and steady progress, focusing on the deep development and process innovation of the new water island® 3.0 version, enhancing modularity and integration[21] Market and Contracts - The company's To B business revenue reached ¥16,423,440, representing a year-on-year increase of 91.98%[10] - The revenue from the wastewater resource utilization sector was ¥31,503,700, showing a year-on-year growth of 17.95%[10] - The company secured contracts for the "Yuhua Thermal Power Project" and the "Yancheng High-tech Zone Industrial Reclaimed Water Plant Project," providing high-quality reclaimed water and optimizing user water production processes[23] - In the overseas market, the company signed a supply contract with ecooil in Indonesia, showcasing its technical strength in oil refining water treatment[24] Liabilities and Equity - Total liabilities increased to CNY 1.04 billion as of September 30, 2025, from CNY 1.14 billion as of December 31, 2024, a decrease of 8.3%[32] - The company's total equity as of September 30, 2025, was CNY 1.20 billion, compared to CNY 1.16 billion as of December 31, 2024, an increase of 3.2%[32] - The total liabilities decreased to CNY 442,391,707.86 from CNY 596,287,396.72, reflecting a significant reduction in financial obligations[42] - The total equity increased slightly to CNY 977,867,752.47 from CNY 972,055,477.93, showing resilience in shareholder value despite operational challenges[42] Investment and Patents - The company completed applications for two patents related to deep water treatment and resource utilization technologies, bringing the total number of authorized patents to 123 as of the end of Q3 2025[25] - Investment income for the first three quarters of 2025 was CNY 554,934.23, down from CNY 1,866,315.01 in 2024, indicating challenges in investment performance[44] - The company reported a credit impairment loss of CNY 5,163,047.25, an increase from CNY 3,764,253.44 in the previous year, highlighting potential risks in receivables[44] Operational Challenges - The gross profit margin for the period was 32.15%, with a decrease in gross profit for the new water island and plant operation services[10] - Total operating costs increased to CNY 360.37 million in 2025 from CNY 338.59 million in 2024, representing a rise of 6.4%[34] - Financial expenses increased significantly to CNY 12.70 million in 2025 from CNY 5.33 million in 2024, an increase of 138.5%[34] - The net cash flow from operating activities for the first three quarters of 2025 is CNY 12,810,495.85, significantly lower than CNY 44,565,464.24 in the same period of 2024, indicating a decrease of 71.2%[38] - The company's cash flow management showed improvement, with a focus on reducing short-term borrowings and other current liabilities[45] Accounting Standards - The company will not apply new accounting standards starting from 2025[48]